Insider Selling: Reddit, Inc. (NYSE:RDDT) CEO Sells 14,000 Shares of Stock

Reddit, Inc. (NYSE:RDDT) CEO Steve Ladd Huffman sold 14,000 shares of the company’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $103.28, for a total transaction of $1,445,920.00. Following the completion of the transaction, the chief executive officer now directly owns 577,013 shares in the company, valued at approximately $59,593,902.64. The trade was a 2.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Steve Ladd Huffman also recently made the following trade(s):

• On Friday, March 14th, Steve Ladd Huffman sold 124,408 shares of Reddit stock. The stock was sold at an average price of $127.36, for a total value of $15,844,602.88.
• On Friday, February 28th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The shares were sold at an average price of $160.30, for a total value of $2,244,200.00.
• On Tuesday, February 18th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The stock was sold at an average price of $187.78, for a total transaction of $2,628,920.00.
• On Friday, January 31st, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The shares were sold at an average price of $201.96, for a total transaction of $2,827,440.00.
• On Wednesday, January 15th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The stock was sold at an average price of $172.79, for a total transaction of $2,419,060.00.

Reddit Price Performance

NYSE RDDT opened at $86.72 on Friday. The business’s 50-day moving average is $157.86 and its 200 day moving average is $138.72. The stock has a market capitalization of $15.69 billion and a PE ratio of -11.22. Reddit, Inc. has a 1 year low of $37.35 and a 1 year high of $230.41.

Reddit (NYSE:RDDT) last posted its earnings results on Wednesday, February 12th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.12. Reddit had a negative return on equity of 24.71% and a negative net margin of 37.25%. As a group, equities research analysts anticipate that Reddit, Inc. will post 1.12 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Seaport Res Ptn raised shares of Reddit to a “hold” rating in a report on Thursday, February 6th. Piper Sandler lifted their price target on Reddit from $210.00 to $220.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Loop Capital reiterated a “buy” rating and set a $210.00 price objective on shares of Reddit in a research report on Tuesday, March 11th. B. Riley raised their price objective on Reddit from $112.00 to $187.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Finally, Guggenheim reduced their price target on shares of Reddit from $210.00 to $170.00 and set a “buy” rating on the stock in a research report on Thursday, March 20th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $163.00.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Plato Investment Management Ltd bought a new stake in shares of Reddit during the 4th quarter valued at about $27,000. EverSource Wealth Advisors LLC bought a new stake in Reddit during the 4th quarter valued at approximately $28,000. Ridgewood Investments LLC grew its holdings in shares of Reddit by 100.0% during the 4th quarter. Ridgewood Investments LLC now owns 200 shares of the company’s stock worth $33,000 after acquiring an additional 100 shares during the period. Farmers & Merchants Investments Inc. purchased a new position in shares of Reddit during the 4th quarter worth approximately $33,000. Finally, Bogart Wealth LLC bought a new position in shares of Reddit in the 4th quarter worth approximately $33,000.

Reddit Company Profile

Reddit, Inc operates a website that organizes digital communities. It organizes communities based on specific interests that enable users to engage in conversations by sharing experiences, submitting links, uploading images and videos, and replying to one another. The company was founded in 2005 and is headquartered in San Francisco, California.